Answer to Question #171408 in Financial Math for vlad

Question

Dylan is a tiler who earns $1425 for a fortnight’s that includes a normal 60 hours as well as 10

overtime hours at time-and-a-half. Find his normal hourly rate of pay.

Answer 1

Since Total pay = Basic pay + overtime premium.

Where Basic pay= Number of hours worked multiply by Rate per hour.

And overtime premium= One Quarter multiply by Basic pay.

Therefore, let x represent the rate per hour;

I.e (60*x)+(10* (x divided by 4))= $1425

X= $22.8 i.e rate per hour is $22.8.

The Normal Hourly rate is equal to Number of hours worked multiply by rate per hour which is determined below;

60 hours multiply by 22.8= $1368 while the overtime premium is 10 hours multiply by one quarter of $22.8 i.e 10 hours multiply by $5.7= $57.

Hence, Normal Hourly rate= $1368 and Overtime premium is $57 which makes the summation of the two to be $1425.